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Key Tronic Corp. - KTCC STOCK NEWS

Welcome to our dedicated news page for Key Tronic (Ticker: KTCC), a resource for investors and traders seeking the latest updates and insights on Key Tronic.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Key Tronic's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Key Tronic's position in the market.

Rhea-AI Summary
Key Tronic Corporation (KTCC) reported a 12% increase in revenue for the first six months of fiscal year 2024, driven by growth in US-based production and Vietnam-based facilities. The company's gross margin improved to 8.1%, reflecting a favorable product mix and improved operating efficiencies. However, increased labor costs, unfavorable foreign currency exchange rates, and higher interest rates on its line of credit negatively impacted profitability. Key Tronic expects a severance expense of $1.0 million to $2.5 million from headcount reductions in its Mexico-based operations for the third quarter of fiscal 2024.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
3.6%
Tags
earnings
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Rhea-AI Summary
Key Tronic Corporation (KTCC) is set to report its second-quarter fiscal 2024 results on February 6, 2024, after the market closes. The company will host a conference call to discuss its financial results at 2:00 PM Pacific (5:00 PM Eastern) on the same day. The broadcast of the conference call will be available on the company's website under 'Investor Relations' or by phone. A replay will also be accessible on the website.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.38%
Tags
earnings
-
Rhea-AI Summary
Key Tronic Corporation (Nasdaq: KTCC) announced the retirement of President and CEO Craig D. Gates, with Brett R. Larsen to succeed him. The Board of Directors also named Anthony G. Voorhees as Executive Vice President of Administration, CFO, and Treasurer, and appointed Cheryl Berenak as a new member of the Board. Chairman Patrick Sweeney is retiring from the Board, with Ronald F. Klawitter to act as the new Chairman.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.91%
Tags
none
Rhea-AI Summary
Key Tronic Corporation reports 8% YoY revenue growth for Q1 FY2024, reaching $147.8 million. Net income declines to $0.3 million due to severance costs and softening demand. The company reduces workforce by over 100 employees, expecting to save over $5 million annually. Keytronic wins new programs in various sectors and plans for increased demand in Mexico-based programs in H2 FY2024.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.52%
Tags
earnings
-
Rhea-AI Summary
Key Tronic Corporation announces preliminary results for Q1 2024
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-3.83%
Tags
earnings
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Rhea-AI Summary
Key Tronic Corporation plans to report its Q1 fiscal 2024 results on October 31, 2023, after market close. A conference call to discuss the financial results will be held at 2:00 PM Pacific on the same day.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.48%
Tags
earnings
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-11.33%
Tags
earnings
-
Rhea-AI Summary
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-- %
Tags
earnings
-
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-14.83%
Tags
none
Rhea-AI Summary
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.46%
Tags
earnings
Key Tronic Corp.

Nasdaq:KTCC

KTCC Rankings

KTCC Stock Data

50.42M
10.05M
6.6%
41.38%
0.18%
Electronic Computer Manufacturing
Manufacturing
Link
US
Spokane

About KTCC

keytronicems is a value-added contract manufacturer to some of the world’s leading oems. we specialize in pcb assembly, plastic molding, and full product assembly, with products ranging from simple consumer devices to complex, high end commercial and industrial electromechanical products. keytronicems is one of very few contract manufacturers in the $100 to $500 million dollar annual revenue range with primary manufacturing locations in both mexico and china. there are even less companies this size that can match keytronicems’s combination of off-shore world class pcb assembly, plastic molding, and final product assembly all under the same roof. our size allows us to focus on accounts with low to medium volumes and higher flexibility requirements, yet still provide the cost benefits of several off-shore locations normally associated only with much larger contract manufacturers. this focus allows us to provide an unparalleled level of customer service and price on midsize programs. our